Polish Energy Partners S.A. (‘Company’) hereby notifies that on 2nd August 2013 the Company’s subsidiary, Grupa PEP – Farma Wiatrowa 1 Spółka z ograniczoną odpowiedzialnością (‘GPFW1’), and Siemens Sp. z o.o. (‘Siemens’) concluded an agreement on wind turbines delivery and installation (‘Agreement’).
The Agreement refers to the delivery, installation, commissioning and handing over to operation of 18 wind turbines of 2.3 MW each (41.4 MW in total).
The total estimated value of the Agreement is EURO 47 957 000.00 (PLN 204 095 400.60).
The wind turbines delivery and installation is scheduled for May–November 2014.
The total amount of stipulated penalties potentially due to GPFW1 under the Agreement shall not exceed 30% of the Agreement value. GPFW1 is not entitled to claim any additional compensation.
Since the agreement value exceeds 10% of the Company’s equities, it was classified as a material one.